Overview

Description

We are pleased to present this 10,640 SF. Dollar General store located in Scottsbluff, Nebraska. The property is secured with a 15 year, Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains 5% rental rate increases every 5 years including at each of the five (5 year) options to renew. The lease is corporately guaranteed by Dollar General Corporation which holds a credit rating of “BBB”, which is classified as Investment Grade. The store is currently under construction with rent and opening on track for March 2024.

This Dollar General is highly visible as it is strategically positioned Overland Drive which sees 2,247 cars per day. This site sits next to a Dairy Queen & gas station and is surrounded by residential homes. The five mile population from the site is 26,724 while the one mile average household income is $57,786 per year, making this location ideal for a Dollar General. The Subject offering represents an ideal opportunity for a 1031 exchange buyer or a “passive” investor to attain the fee simple ownership of a Dollar General. This investment will offer a new owner continued success due to the financial strength and the proven profitability of the tenant, the nation’s top dollar store. List price reflects a 6.40% cap rate based on NOI of $116,552.87.

Highlights

• 15 Year Absolute NNN Lease | Zero Landlord Responsibilities
• 5% RENTAL RATE INCREASES EVERY 5 YEARS
• Five (5 Year) Options | 5% Rental Increase At Each Option
• One Mile Household Income $57,786
• Five Mile Population 26,724
• 2,247 VPD on Overland Dr | Near Corner of Ave I seeing 8,671 VPD
• Investment Grade Dollar Store with "BBB" Credit Rating
• DG Reported 32 Consecutive Quarters of Same Store Sales Growth
• Surrounded by Residential Homes | Next to Gas Station & Dairy Queen

Documents

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